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Tea Fire Takes Conejo Road Residents by Surprise - Santa Barbara Independent
del.icio.us. UPDATE: ON Monday morning, November 17, Montecito Fire Department Chief Kevin Wallace clarified the situation regarding the Sycamore Canyon Road gate. The fire was first reported at 5:45 p.m. Fire Marshall Jim Langhorn arrived at and ...

Debt guarantee program for U.S. banks is altered - Forbes
WASHINGTON/NEW YORK, (Reuters) - U.S. regulators Friday changed a Federal Deposit Insurance Corp debt guarantee program to help unfreeze credit markets by encouraging American banks to issue hundreds of billions of dollars in new debt. The market ...

Water park in idea phase - Leaf Chronicle
A week after Clarksville Mayor Johnny Piper announced his intention to include a water park in plans for a marina at a redesigned Fairgrounds Park, few new details have emerged. "I've committed to providing a nice water park with nice amenities to it ...

Berkeley profs call for quick economic action - San Francisco Gate
Friday, October 3, 2008 "Fixing this program is now very urgent," said Barry Eichengreen, professor of economics and political science. "It's time for the Congress and the public to come to their senses and realize there are more important things to ...

UPDATE 1-Cemex in talks with five banks to refinance debt - Reuters
MONTERREY, Mexico, Nov 14 (Reuters) - Cemex, the world's No. 3 cement maker, said on Friday it was in talks with five banks to refinance part of its debt. Cemex (CMXCPO.MX: Quote , Profile , Research , Stock Buzz )(CX.N: Quote , Profile , Research ...

UPDATE 1-Russia begins bailout of real estate, retail - Reuters
MOSCOW, Oct 21 (Reuters) - Russia pledged support to the most leveraged and crisis-hit sectors of the economy on Tuesday, including real estate and retail, sending shares in several of its London-listed firms up sharply. The Kremlin's top economic ...

Prince Kuhio Plaza owner risks default - Hawaii Tribune-Herald
CHICAGO -- General Growth Properties Inc. shares plummeted Tuesday after the mall owner warned it faces solvency trouble and may be forced to file for bankruptcy if it can't refinance or extend nearly $1 billion in debt due next month. The real ...

Deep Events and the CIA’s Global Drug Connection - Uruk Net
"L'Assemblea Generale dichiara che: la soggezione dei popoli a dominio straniero, conquista e asservimento costituisce una negazione dei diritti umani fondamentali, è contraria alla Carta delle Nazioni Unite ed è un impedimento alla promozione ...

The Post-Election Rant - Cape Cod Today
W hether you supported Obama or not, I hope everyone appreciates the history of what happened Tuesday night. The same people that celebrated in the streets MUST be engaged in the process, whether it is in their towns, state or wherever. Certainly the ...

'Muzzled' Biden's Halloween Present: A Press Avail - ABC News Blogs
ABC News' Matthew Jaffe reports: Earlier this week, Republicans claimed that Sen. Joe Biden, D-Del., had been “muzzled” by the Democratic campaign, noting that he had not held a full-fledged press availability with traveling reporters since a ...

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Today's Mortgage Terms starting with P

  • Payment Cap: A limit on the size of the monthly payment of an adjustable-rate mortgage or other variable rate loan.
  • Point: A point is equivalent to 1 percent of a mortgage loan. Lenders might charge "origination points" to cover expenses of processing a loan. Some borrowers might pay "discount points" to reduce the loan's interest rate.
  • Pre-Approval: The process of calculating how much money a potential homebuyer could borrow.
  • Prepayment Penalty: A lender's charge to the borrower for paying down the loan before the end of its term.
  • Pre-Qualification: A non-binding process of calculating how much money a potential homebuyer can borrow before applying for a loan. Information submitted during pre-qualification is subject to verification at application.
  • Principal: It is the amount of money borrowed or owed, excluding interest.

    View all Terms
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